Income Tax

Form 15G: meaning and full form

Form 15G is a self-declaration by a resident (below 60) that their income is below the taxable limit, so the bank should not deduct TDS on interest.

11 February 2025 2 min readBy AuditLabs Editorial

Wondering what "Form 15G" means? This short reference explains it in plain terms.

Form 15G is a self-declaration by a resident (below 60) that their income is below the taxable limit, so the bank should not deduct TDS on interest.

What is Form 15G?

Form 15G is a self-declaration by a resident (below 60) that their income is below the taxable limit, so the bank should not deduct TDS on interest.

Where it is used

Avoiding TDS on interest income
Submitting to banks

Why Form 15G matters

Form 15G shows up in real filings, forms and transactions, so knowing what it means helps you complete them correctly and avoid errors, rejections or penalties. When in doubt about how Form 15G applies to you, confirm on the official portal or with a qualified professional before filing.

Frequently asked questions

What is Form 15G used for?

Avoiding TDS on interest income; Submitting to banks.

References & official sources

Income Tax Department — e-Filing portal

This guide is for general information and reflects rules that change over time. Verify current requirements on the official portals above or consult a professional before acting.

#form 15g#glossary#income-tax

Talk to a compliance expert

Leave your number and our team will call you back — no obligation.

Related guides

Income Tax

DDT (Dividend Distribution Tax): meaning and full form

DDT was a tax companies paid on dividends distributed. It has been abolished, and dividends are now taxed in the hands of shareholders.

2 min readRead

Income Tax

Form 15H: meaning and full form

Form 15H is the equivalent of Form 15G for resident senior citizens, declaring that their tax liability is nil so that TDS is not deducted on interest.

2 min readRead

Income Tax